Statoil Secures Rig Capacity for Its 2013/2014 Exploration Program

Statoil secures rig for high impact opportunities supporting the company’s ambition for international growth.

Statoil has signed a three year contract for the Stena Carron drillship for exploration drilling in the pre-salt blocks (Blocks 38 and 39) in the Kwanza basin in Angola.

The agreement being managed by Stena Drilling is for a three year fixed term with start-up Q4 2013 / Q1 2014. Estimated total contract value is USD 700 million. Statoil has also secured two one-year extensions.

Statoil has also allocated the drill-ship Discoverer Americas to East Africa performing exploration drilling in the Statoil-operated blocks in Tanzania and Mozambique.

“Statoil has now secured rig capacity for its planned global exploration program in 2013 and 2014. We have been drilling four successful wells in Tanzania the last year, and are now committed to drill additional wells in Tanzania as well as in Mozambique and Angola.

“Together with a three well campaign in Gulf of Mexico and also three Statoil-operated wells in Canada and a one year drilling campaign in the Barents Sea, this demonstrate an ambitious exploration program, ” says Tim Dodson, executive vice president for Exploration in Statoil.

In Angola, Statoil will test the pre-salt potential in the Kwanza blocks by drilling the commitment wells in block 38 and 39. In East Africa Statoil, along with it’s respective partners, plans to drill three to four wells testing the further potential in block 2 in Tanzania and explore the block 2 and 5 area in Mozambique.

In the Gulf of Mexico Statoil will drill three operated wells during 2013 utilising the semi-submersible Maersk Developer. The company has also exploration activities in two to three partner operated wells in this region coming up in addition to a three well campaign offshore Newfoundland in Canada.

“We are pleased to secure these ultra-deep water rigs”, says Statoil’s chief procurement officer, Jon Arnt Jacobsen.

“Statoil has an ambition to produce 2.5 million barrels of oil equivalent per day in 2020, which requires that we ensure sufficient and appropriate rig capacity. We have secured rigs for our needs in 2013 and 2014, and we are also targeting the allocation of rigs and developing new rig concepts to ensure more capacity in the market.”

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Press Release, March 15, 2013; Image: Transocean/Maersk